2nd Dec 2011 Nifty Trend

Today Nifty can opening with gap due to  Asian Markets and it has immediate resistance at 5020 and 5055 levels. If NIFTY breaks above 5055 on weekly closing basis, short term fresh buying can be expected and then 5153 and 5183 levels are possible. The lower side, the support would be at 4815 and 4757 levels.  Investors are advised to build their portfolio in the form of SIP (Systematic Investment Plan) scheme for the next two – three months on weekly basis.  Trade Cautiously as volatility may remain high ahead of weekly inflation data released later in theday.